Which of the Following Accounts Will Be Closed by Crediting

question 150

Multiple Choice

Which of the following accounts will be closed by crediting the Income Summary account?

• A) Service Revenue
• B) Depreciation Expense
• C) Accounts Payable
• D) Accumulated Depreciation

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Definitions:

Supervisors

Individuals in charge of overseeing and managing the work of others, ensuring tasks are completed adequately.

Colleagues

Individuals with whom one works, especially within a profession or a specific project group.

Memo

A short document or note that is used for communication within an organization, often to inform employees about policies or announcements.

Email

Electronic mail, a method of exchanging digital messages over the internet.